Running head: ASSIGNMENT 1 JET COPIES Assignment 1- Jet Copies Dr. Joseph MAT 540 October 20, 2012 1. In Excel, use a suitable method for generating the number of days needed to repair the copier, when it is out of service, according to the discrete distribution shown. Days-to-repair: If you assume that the number of days needed to repair a copier is random, you can generate a random number denoted r2 between 0 and 1: 0 < random value < 0.2, then it takes 1 day0.2 < random value < 0.65, then it takes 2 days0.65 < random value < 0.90, then it takes 3 days0.9 < random value < 1, then it takes 4 days. 2. In Excel, use a suitable method for simulating
So, if we take random values for r2 between 0 and 1 then we will get different values of time intervals in weeks between successive breakdowns. 3. Lost revenue It is given that they charge $0.10 per copy and number of copies sold in one day follows a uniform probability distribution between 2000 and 8000 copies. Therefore, if we chose a random variable r3 whose value is in between 2000 and 8000 then the lost revenue will be 0.1×r3×repair time. By putting different values for r3, we can get a number of lost revenues by simulation method.
If we let B= the balance, it would look like: B+ (.05) B B (1+.05) B (1.05) In other words, each year the existing balance is multiplied by 1.05. This repeated multiplication by the same number tells us we have a geometric sequence. First, we need to identify. N= the number of terms N= 10 R= the common ratio R= 1.05 A1= the first term A1= 500(1.05) =525 the balance at the end of 1 year In a savings account, the total balances at the end of each year form the sequence, so we don’t need to add up all the terms in the sequence. We just need to find out what the balance is at the end of 10 years, so we are look for the value of A10.
Assume that (i) if the trial proceeds it is expected to last less than a month and result in two possible outcomes in terms of the price per share established in court: the $273,000 claimed by the plaintiffs, or the $55,400 being defended by Herbert Kohler; (ii) Kohler estimates the probabilities of these outcomes at 30% and 70%, respectively. 5. How would your answer to question 4 change if you also assume that (i) the inheritance tax owed on Frederic Kohler’s estate was 50.2% of its holdings in Kohler Co. (equivalent to 489 shares of the 975 he owned); (ii) the taxes paid by the estate amounted to $27 million (489 shares at $55,400 each); (iii) were the settlement or the trial to result in a revised share price in excess of $55,400, the IRS would likely demand a similar valuation for its claim on Frederic’s estate; and (iv) Herbert Kohler estimates the probability of the IRS’s demand at 100% if he proceeds to trial, and 50% if he
P(x) =x^2 – 4000x + 7800000 3800000 = x^2 -4000x + 7800000 answer: number of items sold= 2000 X^2-4000x+4000000=0 (x-2000) ^2=0 X=2000 P(2000) =3800000 6. The value of a machine depreciates according to the function f(x)=20000(1/2)x , where x is the time in years from the purchase of the machine. Find its value after 3 years. 1(x)=200000(1/2)^x 20,000(.5)
If you choose 40 random employees from the corporation, the standard error would equal 6/Square root of 40 = .95 days. The 12 days in this department corresponds to (12-8.2)/.95 = 4 standard errors above the corporation average of 8.2. This is much higher than two or three standard errors, and it appears to be beyond chance variation. Chapter 9 Exercise 3 The p- value tells you how likely it would be to get results at least as extreme as this if there was no difference in the taste and only chance variation was operating. In this problem, p-value of 0.02 means that, if there is no difference in taste, then there is only 2% chance that 70% or more people would declare one drink better than the
(Hint: be sure to enter a sentinel value for end of file processing later.) Part B: Using a separate algorithm, use the monthly_Sales.dat file as input to determine the company’s annual profit. Be sure to THINK about the logic and design first (IPO chart and or pseudocode), then code the Visual Logic command line processing. Rubric: When completed staple the following documents together neatly in 1,2,3,4 order: 1) This instruction sheet first 2) The IPO Chart, second 3) The Pseudocode, third 4) The Flowchart and output example last. Point distribution for this application: Annual Profit | Document: | Points possible: | Points received | Part A | 10 | | Part B | 10 | | Total Points | 20 | | IPO Chart A: Input | Processing | Output | | | | Pseudocode: Start Display “Begin writing to file: monthly_Sales.txt Display “Data for 12 months has been written to the monthly_Sales.txt file.” Declare sales = 10000 FOR month From 1 To
Question 1 In summary: Product Line 1 (time in minutes) Line 2 (time in minutes) Profit ( $ ) X1 SUPER 3 4 42 X2 EXCELLENT 6 2 87 Let X1 = Number of SUPER model produced during 8 hour shift. X2 = Number of EXCELLENT model produced during 8 hour shift. Max 42X1 + 87X2 ST X1 + X2 ≤ 480 3X1 + 6X2 ≤ 480 4X1 + 2X2 ≤ 480 X1, X2 ≥ 0 It is recommended to produce 80 units of EXCELLENT and none SUPER in order to get the maximum profit (See attached print-out, table № 1). If the company wants to produce SUPER, the maximum profit will reduce by $1.5 per each unit, with $6960 - $1.5 = $6958.5 (See attached print-out, table № 2). As the company has extra 320 minutes
In order to calculate the cycle time we need the following: Production time per day / output per day in our conversation with Wu, there is a budget to produce 6 workbooks an hour, with a 40-hour workweek. This information can be used to calculate the cycle time; Production time per day is 8 hours or 480 minutes with a required 48 boots per day for a total of 10 minutes per unit Using these values we can see that the minimum workstation are simply calculated by dividing 46 minutes / 10 = 4.6 or 5 minimum stations and increasing the efficiency to 92%. 1. Please see attached copy of the excel POM workbook that backs up the information discussed above as well as it gives the most efficient production realignment as shown on table below, proving to be the best tool to increase efficiency and reduce the number of stations
Introduction “Probability is a numerical measure of the likelihood that an event will occur” (Anderson, Sweeney, & Williams, 2012, p.150). One can calculate the likelihood that an event will occur, giving it a numerical value between zero and one. “A probability near zero indicates an event is unlikely to occur; a probability near 1 indicates an event is almost certain to occur” (Anderson et al., 2012, p.150). Probabilities are used every day to calculate lottery odds, used by businesses to assess risks, and even by families determining the likelihood of being able to afford a family vacation. However probabilities are used, one can make conclusions from the values given.